Bank Nifty - 16/01/2024 - Levels

Hello Traders, Welcome to SriTrader5121
--------------------------------------------------
Bank Nifty - 16/01/2024 - Levels
IMPORTENT ZONE FOR THE DAY: 48035 – 48060
Important Support and Resistance for the Day...
Support - Resistance -
Support-1: 48060 Resistance-1: 48320
Support-2: 47940 Resistance-2: 48380
Support-3: 47830 Resistance-3: 48470
Support-4: 47700 Resistance-4: 48600
____________________________________________
Happy Learning and Trading – TST5121

Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM

• 0.5 -> 0.5% Swing
  
• PDH -> Previous Day High
  
• PDL -> Previous Day Low
  
• PDC -> Previous Day Close
  
• PDO -> Previous Day Open
  
• PWH -> Previous Week High
  
• PWO -> Previous Week Open
  
• PWC -> Previous Week Close
  
• PWL -> Previous Week Low
  
• D_S -> Day Support
  
• D_R -> Day Resistance
  
• W_S -> Week Support
  
• W_R -> Week Resistance
  
• W_O -> Week Open
  
• W_C -> Week Close
  
• LW_O -> Last Week Open
  
• LW_C -> Last Week Close
  
• IMP -> Important
  
• R@1, R@2, R@3... -> Resistance-Zones
  
• S@1, S@2, S@3... -> Support-Zones
  
• MS -> Major Support
  
• SH -> Swing-High
  
• SL -> Swing-Low
  
• DT -> Double Top
  
• DB -> Double Bottom
  
• TT -> Triple Top
  
• TB -> Triple Bottom
  
• TF -> Time Frame
  
• BO -> Break-Out
  
• RR -> Risk-Reward
  
• SL -> Stop-Loss
  
• GAP -> The area b/w Previous Day Close and Today Open
  
• Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
  

If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1.
(Or)
If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL.
Possibility 2: GAP-UP
If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH.
(Or)
If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
Possibility 3: GAP-DOWN
If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
(Or)
If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.